Preparations begin for UP’s annual budget for 2023-24

Lucknow: Preparations have begun for the Uttar Pradesh government’s annual budget for 2024-2025, size of which may cross Rs 7 lakh crore mark.

The government has asked all the major departments to submit their proposals to be incorporated in the budget by November 30.

In a letter, it has asked the departments to work out the budgetary proposals in accordance with the policies and submit the same to state finance department by November 30.

State Minister for Finance Suresh Khanna said: “Yes, we have begun preparations. The state government will begin giving final touches to the annual budget once the proposals are received from various departments.”

The state government presented its annual budget of Rs 6.90 lakh crore for 2022-2023 on February 22, and its size is bound to go up.

It is likely to present the annual budget ahead of 2024 Lok Sabha elections as Chief Minister Yogi Adityanath may consider incorporating some populist schemes.

Its focus is bound to be farmers and the creation of jobs for the youths.

The state government’s capital expenditure is likely to go up and this may reflect on the state’s growth in coming years.

“The forthcoming budget for 2024-25 is expected to be of more than Rs 7 trillion. The Lok Sabha elections, due in 2024, would also have a reflection on the budget provisions in terms of expenditure. Vishwakarma Yojana is expected to receive a big chunk of resources. Development of Ayodhya too would be in focus. Progress under the 1 trillion-dollar economy goal would also be showcased. GSDP at current prices has been estimated to have grown at 14.33 per cent in 2022-23,” an official said.

Given the political significance of the state in terms of Lok Sabha elections, the Yogi government would make an effort to showcase the state as a model state of governance and development.